Goldman's $550m payment is latest in a line of settlements
Goldman pays $550 million to settle charges of misleading customers on Abacus CDO
Today's news that Goldman Sachs will pay $550 million to settle civil fraud charges brings to an end an extraordinary and high-profile three-month struggle between the bank and the US Securities and Exchange Commission (SEC).
The SEC originally filed its suit in April, accusing the bank of concealing the involvement of hedge fund Paulson & Co in the selection of securities underlying a collateralised debt obligation (CDO), Abacus 2007-AC1, which the bank sold to investors including ABN Amro
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